Base Metals: This explorer has a feisty Jaguar nickel play on its hands
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Centaurus Metals (ASX:CTM) has bitten into a thick zone of high-grade semi-massive to massive nickel sulphides at the Onça Rosa prospect within its Jaguar project in northern Brazil.
Recent drilling confirmed the down-dip extension of historical high-grade nickel sulphide mineralisation with a top result of 9.3m at 3.13 per cent nickel, 0.19 per cent copper and 0.08 per cent cobalt from 281.8m.
This is 40m down dip from a historical Vale drill hole that intersected 7.9m at 5.27 per cent nickel, 0.26 per cent copper and 0.11 per cent cobalt from 247m.
Onça Rosa is a largely untested 600m-long electromagnetic conductor plate that is coincident with a magnetic anomaly and high nickel-chromium soil geochemical ratios that are indicative of nickel sulphides.
Managing director Darren Gordon says that while there has been very limited drilling on the prospect, the latest results underscores the company’s belief that it could potentially be included in a maiden high-grade nickel sulphide resource estimate targeted for mid‐year.
Poseidon Nickel (ASX:POS) has upgraded the reserve for its Silver Swan deposit north of Kalgoorlie by 106 per cent to 130,000 tonnes at 5.2 per cent nickel, or 6,800 tonnes of contained nickel.
The company is also starting an underground drilling program to test a large electromagnetic anomaly towards the base of the Black Swan mineralised sequence below the open pit.
Meanwhile, Pure Minerals (ASX:PM1) has acquired the Sewa Bay nickel project in Papua New Guinea from Highlands Pacific Resources. Previous auger drilling intersected a peak grade of 1.61 per cent nickel and a top intersection of 6.3m at 1.12 per cent nickel from surface.